Larry Kudlow: “Stable Money Is the Next Big Growth Issue”

Larry Kudlow has also noticed that the Federal Reserve and its impact on growth have entered the GOP race: Stable money is the next big growth issue. To their credit, many of the Republican candidates have talked about this — which is unusual for a presidential race. Some, like Cruz and Paul, have discussed restoring the gold rule. Others, like Mike Huckabee, have argued for tying the dollar to a commodity basket. I prefer an even broader approach that would include the exchange value of the dollar and Treasury-bond-market inflation expectations. In each case you would track forward-looking inflation-sensitive market-price

How to Unite the Party: Fight the Fed!

The following is adapted from APP Chairman Sean Fieler’s remarks at the American Principles Project’s Practical Federalism Forum in Hooksett, N.H., on Oct. 3. We Americans are in an anti-establishment mood.  We’ve been lied to. We know it and we are determined to put an end to it.  We want elected officials who will tell us the truth. Now, Democrats interested in the truth.  And there are some, God bless their souls, that have a solution to the lie. That solution is Bernie Sanders and his message of hope. The socialist dream is just 18 trillion dollars of spending, and we

Dante’s Inferno Suggests Why Washington Lies in the Eighth Circle of Hell — And How It Can Escape

Revealed, in my column last weekend: Washington appears stuck in the Eighth Circle to which Dante assigns Falsifiers. Dante consigned alchemists and counterfeiters to the bottom of this next-to-lowest circle of Hell. As one commentator on classical literature notes Dante there encounters: … an alchemist who extracted large sums of money from Alberto da Siena. Griffolino extracted money by promising Alberto that he would teach him to fly like Daedalus. When Alberto discovered he had been tricked, he had his “uncle,” the Bishop of Siena, burn Griffolino as a sorcerer. Griffolino is not punished for sorcery, but for falsification’s John Tamny: The 21st Century Case For Gold is “Excellent and Very Important”

John Tamny, Political Economy Editor at, calls George Gilder’s new monograph, The 21st Century Case For Gold, published by the American Principles Project, “an excellent and very important read.”  Tamny: “Thank goodness for Steve Forbes” is a frequent refrain among the small number of economics writers who support the dollar’s revival as a stable measure of value. Respected by serious people on the left and right, and among the various “Schools” of economic thought, Forbes’s strong support for gold-defined money lends the movement an air of credibility that otherwise wouldn’t exist. Add George Gilder to what is a short

Ending Government Abuse of Money

Richard Rahn, a Cato Institute senior fellow, has just read George Gilder’s “The 21st Century Case for Gold,” and he’s fascinated: What is money? The coin and currency that you have in your pocket? The balances you have in your checking, money market or savings account? How about the value of your stocks and bonds? The government (mainly the Federal Reserve) provides numbers about the money supply — M1, M2, M3 and M0, which only goes to show that there is no simple definition on which all agree. The economist-technologist-philosopher George Gilder, who has written many bestselling and provocative books,

Gilder’s “New Information Theory of Money” Fixes the Meaning of Money

George Gilder’s new monograph, “The 21st Century Case for Gold: A New Information Theory of Money,” offers a revolutionary alternative to today’s “deeply flawed understanding of the nature of money.” Drawing attention to the relationship between money and information, Gilder redefines and contextualizes the role of money in the 21st century as an information carrier in an information economy. Money is a “measuring stick” of economic activity, and nothing does this job better than gold. Information is key to enterprise and innovation. “Money,” Gilder says, “is the channel that carries the information to investors, workers, small businessmen, major corporations and

Forbes to India and Emerging Economies: Stabilize Currency to Reach Full Potential

Earlier this week, Steve Forbes published an article calling for developing economic powers to fix their currencies to the dollar or euro as a means to overcome obstacles to growth. …all of these nations have overlooked a crucial requirement of economic greatness: a stable currency. Investors and entrepreneurs yearn for sound money, just as marketplaces function best when weights and measures are reliable and fixed. “Ambitious countries must grasp the fact that economies with sound monetary policies always outperform those with chronically unstable money, ” he says, citing Britain as a pinnacle example of a booming economy historically facilitated by stable,

Kudlow: Sound Money Key to Unleashing Economic Growth

Larry Kudlow reports on the dinner at which Giuliani made news by dissing President Obama’s love for America.  His new Committee to Unleash American Prosperity wants us to return to the first principles of economic growth: It was the second event sponsored by the Committee to Unleash American Prosperity, a new group founded by Arthur Laffer, Steve Moore, Steve Forbes, and myself. Just as the Committee on the Present Danger — formed by Midge Decter, Norman Podhoretz, and Irving Kristol — worried about the decline in American foreign policy in the late 1970s, we are worried about the decline in American economic